Maine’s economy grew last year, but at a very slow pace.
The state’s gross domestic product – the value of goods and services produced – increased 0.9 percent in 2013, putting Maine in the bottom 10 states in growth, according to the Bureau of Economic Analysis, which released the figures this morning.
The value of the state’s production was put at $51.2 billion. In 2012, the state’s output was valued at $50.7 billion, the BEA said.
Maine ranked 41st among the states in GDP growth last year.
Nationally, growth was strongest in the Rocky Mountain, Southwest and the Plains states. North Dakota had the fastest rate of growth among the states, with its economy jumping 9.7 percent on top of a 20.3 percent increase in 2012. Wyoming was second, with a 7.6 increase in GDP. Growth in the mid-Atlantic states was the slowest among the regions.
Alaska’s economy performed the worst among the states, with its GDP contracting 2.5 percent.
None of the New England states’ economies performed particularly well, but Maine’s was the slowest growing in the region. Overall, the New England GDP grew by 1.3 percent, led by Vermont, which posted a 1.9 percent increase, 22nd fastest nationally. Massachusetts’ GDP grew 1.6 percent, 28th-fastest nationally; Rhode Island’s GDP increased 1.4 percent, 33rd nationally; Connecticut posted a 0.9 percent increase, 39th nationally; and New Hampshire grew 0.9 percent, 40th-fastest.